Intuitively, the whole economy cannot be B2B SAAS companies funded by VCs. At some point you need to provide value to consumers or the government. If those consumers don’t have any money and/or aren’t willing to spend a paycheck making studio ghibli profile pics, you have a problem. I guess Sam Altman has been asking for a government bailout so maybe he is going for the b2g option in a backwards sort of way.
Sure, maybe the majority will go back to being peasants or serfs, which I would argue is the default state of humanity. It might be that the last 300 years, where individuals have the ability to sell useful services back to society, were an anomaly and things will go back to the way they were before that.
